Founders Grove Wealth Partners LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Founders Grove Wealth Partners LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,027 shares of the electric vehicle producer’s stock, valued at approximately $1,626,000.

Other large investors have also added to or reduced their stakes in the company. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Tesla by 36.4% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock worth $554,000 after purchasing an additional 747 shares during the period. RPg Family Wealth Advisory LLC increased its holdings in Tesla by 5.9% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,766 shares of the electric vehicle producer’s stock valued at $547,000 after buying an additional 155 shares during the last quarter. Meridian Wealth Partners LLC raised its position in Tesla by 2.0% in the second quarter. Meridian Wealth Partners LLC now owns 2,915 shares of the electric vehicle producer’s stock worth $577,000 after acquiring an additional 57 shares during the period. Lingotto Investment Management LLP boosted its stake in shares of Tesla by 86.5% during the 2nd quarter. Lingotto Investment Management LLP now owns 75,461 shares of the electric vehicle producer’s stock worth $14,932,000 after acquiring an additional 35,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Tesla by 14.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 314,477 shares of the electric vehicle producer’s stock valued at $62,297,000 after acquiring an additional 39,664 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TSLA. Stifel Nicolaus raised their target price on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Finally, UBS Group raised their price objective on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $299.33.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 8.0 %

NASDAQ TSLA opened at $428.22 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 117.32, a PEG ratio of 6.53 and a beta of 2.30. The company has a fifty day moving average of $382.71 and a two-hundred day moving average of $284.69.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.